The NFT market continues to be sluggish. The total transaction value of OpenSea in August was only US$498 million, setting a record low in the past 12 months. Compared with the peak transaction value of US$5.86 billion in January this year, it has shrunk by about 92% and has declined for four consecutive months. . In addition, the search popularity of Google Trends also dropped by 86% from the peak. (Recap:Understanding BendDAO liquidation: the “last straw” that detonated the NFT liquidity crisis) (background supplement:Announcement of “50 ways to use NFT” Co-founder of Solana: A new type of NFT will come out at the end of the year)
The crazy cryptocurrency bear market has also dragged down the NFT market. According to Dune analytics data, the total transaction value of the leading OpenSea in August was only US$498 million, setting a record low in the past 12 months. Compared with the peak transaction value of US$5.86 billion in January this year, it has shrunk by about 92%; As of May 1 this year, the single-day transaction volume record of 540 million US dollars was set by Yuga Labs’ launch of the metaverse project Otherside.
In addition, according to the data from Google Trends, we can also find that the global population’s interest in NFT-related topics has dropped significantly, reaching a low of 14 in mid-August. The heat has plummeted by 86%.
Note: The search popularity score is represented by 0 to 100, and the search popularity of 100 indicates the time point with the highest number of searches.
The market is sluggish, and the floor price of blue-chip NFTs has fallen by 20~35% in the past three months
At the same time, many blue-chip NFT projects also encountered headwinds. According to Nftpricefloor data, the top five NFTs by market value have experienced a 20-35% decline in the past three months, except for Cryptopunks, which was boosted by Tiffany NFTs.
Bored Ape Yacht Club: Floor price 69.95 ETH, down 19.51% CryptoPunks: Floor price 65 ETH, up 35.56% Mutant Ape Yacht Club: Floor price 12.9 ETH, down 28.33% Otherdeed for Otherside: Floor price 1.73 ETH, down 30.8% Moonbirds: Floor price 12.7 ETH, down 36.5%
Compared with January, it has shrunk by 93%! The transaction volume on the OpenSea Ethereum chain has been 354 million magnesium since August, or has declined for 4 consecutive months
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